U.S. refinery utilization declined for a second consecutive week, with the latest data from the U.S. Energy Information Administration (EIA) showing a week-over-week drop of 0.6% as of 28 October 2026. This follows a 0.1% decline in the previous week, indicating a gradual easing in refinery run rates.
The indicator measures the change in utilization compared with the prior week, and the current reading suggests refineries have scaled back operations more notably than in the prior period. While no specific causes were detailed in the data, the continued week-over-week decrease could reflect adjustments to shifting fuel demand, seasonal maintenance, or broader market conditions affecting refining margins.
Market participants tracking U.S. fuel supply and refinery throughput may interpret the deeper pullback as a sign of softer immediate demand or cautious operational planning, with potential implications for near-term product inventories and price dynamics in refined products markets.
